Improve the efficiency of foreign investment cooperation in the Binh Phuoc province

Wednesday - 05/07/2023 14:37 945
(BP Portal) - On July 3, the People’s Committee issued Plan No.209/KH-UBND on implementing some tasks and solutions to improve the efficiency of foreign investment cooperation in Binh Phuoc province in the period of 2023-2030.

The good realization of the tasks and solutions in this plan will contribute to attracting foreign investment projects using advanced technology, new technology and high technology of the Fourth Industrial Revolution; Modern governance, with high value added, has a positive spill-over effect, connecting global production and supply chains. At the same time, to expand the market, attract capital, technology, management knowledge and enterprise culture of the foreign-invested sectors; Raising the competitiveness of domestic economies, enterprises and products; Promotion of domestic industries, agriculture and services. In this way, to raise the full effectiveness and quality of the attraction and use of foreign investment capital, to increase the share of the foreign investment sector in socio-economic development, compatible with the preferential treatment and assistance enjoyed. Building and development of the creative renewal centers of Binh Phuoc province and providing the driving force for socio-economic development in the coming period.

Successfully implementing tasks and solutions in this Plan also contribute to the completion of specific objectives in Plan No.155-KH/TU dated October 7, 2022 of the Province on implementation of Resolution No.50-NQ/TW dated August 20, 2019 of the Politburo on the orientation of institutional finishing, policy, improving quality and efficiency of foreign investment cooperation until 2030. Increase the proportion of registered capital of countries and territories in some regions of the province’s total foreign investment capital to more than 70% by 2030, including: Japan, South Korea, Singapore, Thailand, China, Taiwan (China), Hong Kong (China), UK, France, Germany, USA, Australia, New Zealand. Attract 1 - 2 multinational corporations belonging to the group of the world’s 500 largest corporations ranked by Fortune Magazine (USA) to invest in Binh Phuoc province. Located in the group of 35 provinces, the city is the country’s top in the Provincial Competitiveness Index (PCI).

Accordingly, the provincial People's Committee asked to organize 9 concrete tasks and solutions. The emphasis was placed on the continued effective implementation of solutions delivered at central and local documents and guidelines. Improving the environment for business investment, and improving the quality, efficiency and competitiveness of the economy. Ecological development of science and technology and creative innovation. Reform and increase competition in attracting foreign investment. Industrial development to support, promote links, spread. Develop internal capacity and take advantage of competition to improve the efficiency of foreign investment cooperation. Enhancing the effectiveness of international economic integration. Modernization and diversification of investment promotion. To enhance the efficiency and efficiency of State management over foreign investment.

In institutional terms, to strengthen the participation in the initiative, strength and conformity and nature of the departments, boards, branches and People's Committees of districts, towns and cities to create a fair, open and transparent business investment environment. To ensure the investment environment and laws, stabilize, unify, synchronize and become more and more complete, adapt in time to new problems, and handle any difficulties to raise the quality and efficiency of foreign investment. The application of business investment procedures in a flexible manner on the principle of post control with regard to suitable business lines as prescribed by law in order to create competition in the process of attracting and using foreign investment capital. The ministries and the general staff shall review and propose to the ministries and branches at the central Level to continue reducing the branches, trades and conditions for unnecessary and unreasonable business investment, ensuring the full and consistent implementation of the investors' right to freedom of business as provided for by law.

Increase the transparency of State management activities in investment, the supervision and enforcement of laws and the post-investment support work so as to restrict and prevent investment disputes; Proposes solutions to solve investor disputes. To closely monitor and control the acquisition behavior of foreign investors and foreign-invested enterprises with respect to domestic enterprises, particularly large enterprises and enterprises operating in strategic fields; Strong control over the investment project threatens to adversely affect security, public order and the environment.

Stepping up administrative reforms, minimizing the time limit for the implementation of the business investment procedures; Equal treatment between domestic and foreign enterprises; Protecting investors' legitimate interests in order to boost the confidence of foreign investors. To step up the implementation of the commitments in EVFTA towards ensuring benefits between Viet Nam - EU, including enhancing enforcement oversight at the grassroots level to ensure that policies on improving the business environment are implemented effectively in practice. Strengthening the forecast capacity during the development of provincial legal documents.

About infrastructure, infrastructure planning in the direction of modern synchronization, with strategic thinking, long-term vision, associated with regional links to create a spreading momentum of development. Facilitate economic components, including foreign investment, construction investment and infrastructure business in many forms of compliance with the regulations of law and in accordance with international practices. Review the revision and supplementation of the priority project portfolio attracts investment in developing infrastructure in order to develop high quality infrastructure such as transport infrastructure, trade, telecommunications, information technology, electricity, water, logistics ...; social infrastructure such as hospitals, schools, vocational training centers, hotels...

Regarding the market for goods, diversification of export markets, take advantage of the advantages brought from the signed free trade agreements, especially new generation agreements such as: Comprehensive and Progressive Partnership Agreement for Trans-Pacific Partnership (CPTPP), Vietnam-EU Free Trade Agreement (EVFTA), Regional Comprehensive Economic Partnership Agreement (RCEP). Full formation and ensure the effective operation of the market types catering to the production of goods, especially those related directly to foreign investment such as finance, land, labor, technology, etc. Enhance market liberalization of the factors of production of goods; ensure market principles in access to land, capital and opportunities to enter the market.

Besides, promote research, application of science and technology, innovative new. Modernization and marketization of training education, including vocational training, focusing on improving qualifications, skill skills, digital technology skills in accordance with practical needs and meeting the requirements of the Fourth Industrial Revolution. Increase cooperation with provinces, cities in the field of specialist team training, enhance productivity to support enterprises meeting digital transformation requirements. Promote development of business production, clearly define industry, sector, products with main competitive advantage to have appropriate development support policies; focus on improving labor productivity, competitiveness, technological level, innovation.

Improve the capacity of domestic enterprises, support maximum startup enterprises, innovative enterprises, small and medium enterprises to joint ventures, link to foreign investment sector, focus on the high-tech, new, advanced, key sectors of the Fourth Industrial Revolution, modern services, manufacturing industry, information technology and financial services. Promote and support domestic enterprises joint ventures, links through the form of capital contribution, purchase of shares, contribution capital of foreign investment enterprises in industries, fields using high technology, new, advanced, progress towards ownership and mastering technology.

Improve the quality of human resources, ensure the implementation of commitments in new generation free trade agreements. Improve the quality of human resources to attract high quality foreign investment. Encourage foreign investment enterprises to train and improve skills and qualifications for Vietnamese workers in Binh Phuoc, progress to Vietnamese labour in Binh Phuoc can take on important positions in foreign investment enterprises.

Continue to innovate, perfect, improve the efficiency of investment promotion. Increase coordination and links between central agencies, professional associations, embassies of countries in Vietnam, Vietnamese embassies abroad ... in promoting investment. Continue to review and promptly publish the portfolio of projects attracting investment in the province. Innovation of the promotion of investment substantial, effective, targeted, focus and focus.

Adequate investment aims to diversify and modernize investment activities and methods of promotion. Enhance the mechanism of dialogue, innovation, expand the method of receiving recommendations, reflections of investors; decisive, timely handling of difficulties and entanglements related to the projects underway. Building a set of documents promoting and promoting investment of the province and management field; promoting knowledge training and in-depth skills on investment cooperation to innovate, perfect, improve the efficiency of investment promotion...
Translator: Ms.Thao

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